UBS WM to double bankers on new Singapore desk

UBS Wealth Management has established a new service to provide financial services to cater to foreigners residing in Singapore.

The new Resident Foreigner Team has four international bankers especially dedicated to this 'underserved' segment of the Singapore community - and UBS plans to double the staff by the end of 2017.

Besides offering financial advice, the team will offer financial solutions tailored to the needs and preferences of foreign residents in Singapore.

The target client base is C-suite executives and entrepreneurs who have lived in Singapore for a long period of time, with plans to stay for the foreseeable future.

August Hatecke, head UBS Wealth Management South East Asia, said: 'We have had requests over the years to provide specialized financial services to foreign residents in Singapore and this new service gives us the ability to provide a seamless banking experience whether they bank in Singapore or their next home.

'We see tremendous potential for this client segment and this is a great opportunity for us to further accelerate the growth of our footprint in this important market.'

The resident foreigner team will work closely with high net worth clients who demand access to a global platform with a range of financial and investment solutions, including planning for children's education and saving for retirement, key concerns for foreign residents in Singapore.

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